Innovative Office Inc. has “cash and carry” customers and credit customers. Innovative Office estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 75% pay their accounts in the month of sale, while the remaining 25% pay their accounts in the month following the month of sale. Projected sales for the first three months of 2013 are as follows:

January $1,200,000

February 1,450,000

March 1,600,000

The Accounts Receivable balance on December 31, 2012, was $180,000.

Prepare a schedule of cash collections from sales for January, February, and March.